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TEFAF’s 2017 Art Market Report

March 6, 2017 by Marion Maneker

Photo: Harry Heuts

Headline Figures

  • sales in the global art market reached $45bn in 2016, up nearly 1.7% compared to 2015.
  • Europe had sales exceeding $20.5bn
  • Americas $14.5bn
  • Asia almost $10bn

Specific Markets

  • US totalled 29.5%
  • UK at 24%
  • China 18%

Global Auction Sales

  • $16.9bn down 18.8% on the 2015 figure $20.8bn
  • Total volume (number of items) sold decreased by 21.5%
  • US auction value dropped by 41% (far exceeding the 9% percent drop in consignments)
  • a 13% drop in the value of auction sales in Europe (from $6bn in 2015 to $5.22bn in 2016).
  • Asia now has the largest share of the global auction market at 40.5%, dominated by China

The report will be released on Friday but you can download a copy here: TEFAF Art Market Report 2017

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Filed Under: Economic Trends

About Marion Maneker

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